Sample Of Separation Agreement

You and your spouse can talk about dividing your wealth and your responsibilities. After discussing, write it down in writing. 1. The husband has by his employment an insurance policy of $__,#_________ through____________ 2. The husband shall irrevocably designate the wife as the sole beneficiary under this policy and submit the designation with______________ in accordance with the Insurance Act. The husband shall give the wife an authentic copy of the appellation within 14 days of the execution of this Agreement. 3. The husband shall retain the wife as the sole irrevocable beneficiary under the policy for as long as he is required to pay assistance either for the wife or for one of the children, and the husband may then manage the policy as he pleases. 4. At the request of the wife, the husband will prove each year that the policy remains in force. (alternatively): authorization and instruction, (5) If the insurance policy is no longer available to the husband due to his employment, he will immediately take out replacement insurance (to ensure that there is no gap in coverage outside his control) at the level of coverage at similar costs and replacement policy. (6) If the husband is in arrears in the payment of premiums and the policy is no longer in good condition, the wife may, at her sole election, pay all premiums and recover them from the husband, as well as all his or her costs and charges, including attorney`s and client`s fees. (7) If the husband dies without such insurance, his personal representatives shall pay the wife the difference between the amount of life insurance she received under this subsection, and that obligation shall be a first charge on his estate.

(Alternate (8) If the husband dies without this insurance, his maintenance obligation under this Agreement will survive his death (notwithstanding paragraphs 11 and 14 of this Agreement) and constitutes a primary burden on his estate. or 9. The parties acknowledge that the continuation of this life insurance by the husband consists in providing a fund to pay the wife and/or child(s) to the child( in the event of the death of the man. However, the aid is not limited to this fund. Private life insurance) 24. LIFE INSURANCE (1) The husband has an insurance policy of usd __________through_________ (company name) with the policy number #_____________. . . .

Comments are closed.